The chairman of the petrochemical company INEOS, British billionaire Sir Jim Ratcliffe, is reportedly planning to finish buying a 25% share in Manchester United (Man United) and start reorganising the Old Trafford administration right away, according to sources on Sky News.
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Before the season resumes, Ratcliffe is anticipated to be confirmed as a minority shareholder of the 20-time winners of the Premier season. After that is finished, he will assume control of football operations, which should result in significant changes.
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Manchester United’s chief executive, Richard Arnold, has already resigned, and Ratcliffe is expected to appoint a successor. Following a terrible start to the season for Erik ten Hag’s team, football director John Murtough is also probably going to be let go.
United is valued more in the sale than Chelsea, a Premier League opponent that was sold by Russian businessman Roman Abramovich to an investment group headed by American billionaire Todd Boehly and private equity company Clearlake Capital in May for $5.2 billion.
Should the deal go through, the 71-year-old Ratcliffe will also be in charge of the team’s player acquisition strategy. However, it is not clear if Ratcliffe intends to assume complete control of the business or if the Glazers would be amenable to a sale.
According to a person who spoke to Reuters, Ratcliffe’s suggested deal structure would permit the Glazer family and other shareholders to make partial pay outs.
